Ubyx – The Stablecoin Clearing System.
Ubyx is developing a clearing system aimed at transforming the fragmented stablecoin landscape into a unified and ubiquitous payment system. Its primary goal is to achieve universal acceptance for stablecoins, enabling users to deposit any stablecoin from various issuers and blockchains into their existing bank and fintech accounts at full face value.
The company addresses several key challenges in the current stablecoin ecosystem, including limited and inconsistent redemption options, the fragmented nature of acceptance networks, and accounting roadblocks. Ubyx seeks to overcome these by allowing stablecoins to qualify as “cash equivalents” under international accounting standards (IAS7), which is crucial for mainstream corporate adoption. This is achieved through standardized rules and processes, including pre-funded settlement accounts by issuers and a uniform redemption process.
Ubyx operates by connecting stablecoin issuers, financial institutions, and settlement banks through standardized APIs, orchestrating the redemption process. It provides a rules-based clearing system that functions similarly to a check clearing system or a card network like Visa/Mastercard, ensuring “singleness of money” where a digital dollar is a digital dollar regardless of the issuer.
Chavanette is excited to announce its partnership with Ubyx as a Scaling Partner and one of its Launch Partners. As part of this collaboration, Chavanette is introducing STRIDE, a solution designed to help banks and financial service providers (FSPs) easily accept and process stablecoins for their customers. This partnership underscores Chavanette’s commitment to supporting Ubyx’s initiative to build a new global clearing system for stablecoins.
Zühlke – Empowering Ideas.
Zühlke is a global innovation service provider. We empower ideas and create new business models by developing services and products based on new technologies – from initial vision through development, deployment, production, and beyond.
We specialise in strategy and business innovation, digital solutions and applications, and device and systems engineering. Our solutions provide unique business value and a reliable foundation for ongoing success.
Zühlke was founded in Switzerland in 1968 and is owned by its partners. Our 1,900 employees are based in Austria, Bulgaria, Germany, Hong Kong, Portugal, Serbia, Singapore, Switzerland, the United Kingdom, and Vietnam, serving clients from a wide range of industries. Meanwhile, our venture capital arm Zühlke Ventures provides start-up financing in the high-tech sector.
